Cardano (ADA) Could Be Poised For A Bullish Breakout, Here’s Why
Cardano (ADA) is a blockchain-based platform that allows developers to build decentralized applications (dApps) and smart contracts. Created by Charles Hoskinson, one of the co-founders of Ethereum to address some of the scalability and interoperability issues faced by existing blockchain networks.
Cardano At Risk Of Falling 8% If It Doesn’t Hold Above Key Support Line
The Cardano price surged as it broke through a critical resistance trendline on its chart, a few days ago. However, the bullish momentum was short-lived, and ADA has since lost 0.5% of its value on the daily chart. The past week saw a significant depreciation of 14% in ADA’s value, with demand and accumulation both falling.
Wrapped Bitcoin Token Goes Live on Cardano Testnet
The Cardano testnet has launched wrapped bitcoin token cBTC as developers aim to attract bitcoin users to the Cardano decentralized finance (DeFi) ecosystem. Users can now mint cBTC tokens from the anetaBTC protocol and use the tokens to fund, trade, or provide liquidity to Cardano testnet protocols. Wrapped tokens make it easy to transfer value across blockchains, allowing users to access different DeFi protocols without requiring the native tokens of that protocol. The rise of DeFi protocols on Cardano has increased since the start of 2023, with total value locked rising from under $50 million to over $150 million in this period.
Cardano and Avorak AI Catching Attention as Potential High-Return Investments in DeFi Space
Cardano (ADA) and Avorak AI (AVRK) are catching the attention of crypto enthusiasts as potential high-return investments. Cardano is a blockchain dApps platform with unique technological features and a growing ecosystem, while Avorak AI is a new AI crypto platform with AI-powered trading and content generation tools.
Cardano ($ADA) Ecosystem Flourishes: 1,227 Projects Building and 65 Million Transactions Processed
Input Output Global (IOG), the organization behind Cardano’s research and development, recently shared its weekly development report for the week ending on Friday, April 21, 2023.
$SHIB and $ADA Holders Set to Benefit From Binance Pay and CoinGate Partnership
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a strategic partnership with Lithuanian fintech firm CoinGate, allowing Binance Pay users to conduct transactions at CoinGate-affiliated merchants using Shiba Inu ($SHIB) and other Binance Pay supported digital assets.
Cardano Foundation Reports No Impact from Industry Risk Events in 2022, Thanks to Holding ADA and BTC
The Foundation allocates its assets to robust counterparties and predominantly holds its ADA($322 million) and BTC($19 million) in cold storage solutions.
Biggest Movers: XRP, ADA Drop to Multi-Week Lows on Friday
Xrp plunged to a multi-week low in Friday’s session, as the token slipped for a third consecutive session. The move pushed prices to their lowest point since late March, with the global market cap trading 2.39% lower as of writing. Cardano also fell to a two-week low.
Dfinity Foundation Says ICP Consumes Less Energy Than Cardano, Launches Proof of Green Initiative
A single Cardano (ADA) transaction consumes 8,598 times more energy than a transaction on the Internet Computer (ICP) blockchain network, according to Dfinity Foundation. In an April 18 press statement shared with CryptoSlate, the Foundation said ICP was one of the greenest blockchains, adding that a single Google search consumes four times more energy than a transaction on the network.
Biggest Movers: ADA Surges to 7-Month High, as XRP Extends Recent Gains
Cardano rose to its highest level in seven-months on April 14, as cryptocurrency markets remained bullish. The global crypto market cap rose by as much as 2.25% on Friday, with bitcoin moving above $31,000. Xrp was another notable gainer, as the token hit a two-week high.
Self-Sovereign Identity on the Blockchain: The Future of Digital Identity
Identity is a fundamental aspect of our daily lives. It enables us to assert our individuality, establish our rights, and engage in financial, social, and political activities.
Cardano Expands Its Utility by Connecting to Ethereum Virtual Machine for Smart Contracts
Milkomeda’s upcoming feature enables Cardano users to access EVM contracts and stake rewards.
Cardano Dynamic P2P Network Upgrade Facilitates Decentralisation Movement
Cardano is gearing up to make a significant leap towards full decentralization with the imminent release of node 1.35.6. The upgrade is set to bring full Peer-to-Peer (P2P) networking to the platform, delivering a substantial boost to its network performance, resilience, and decentralization.
Top Cardano Investors Grab Over 560M ADA Within 2 Weeks
Cardano blockchain’s native currency and utility token ADA has been among the top performers in the first quarter of 2023, posting a gain of roughly 30% in the past 30 days.
Cardano's Input Output Global Launches Lace, the First Native Wallet for the Cardano Ecosystem
Input Output Global (IOG), the research and development arm of Cardano, has released Lace, a new light wallet platform for the Cardano ecosystem. Lace is the first native wallet for Cardano and allows users to send and receive digital assets, stake their ADA tokens, and access Cardano-based dApps.
Analyzing the Events of the Last 15 Days to Decode ADA’s Ongoing Price Surge
Recent data shows that Cardano (ADA) whales have been accumulating a significant number of tokens, with 560 million ADA tokens worth approximately $218.4 million acquired in the last two weeks alone. This has not only boosted the overall number of ADA tokens held by whales, but it has also increased the percentage of tokens in circulation. The number of ADA holders has also been steadily rising, hitting an all-time high of over 4.4 million. Long positions dominate funding rates, indicating that investors are optimistic about a potential price surge. While the 30-day Market Value to Realized Value ratio suggests that ADA is slightly overvalued, the token has been enjoying a modest uptrend over the past few days. (ambcrypto)
Cardano (ADA) Might Get New AI Focus, Cardano Founder Drops Hint
Charles Hoskinson, the CEO of Input Output, the blockchain start-up in charge of the Cardano protocol, has hinted at a new focus for the proof of stake network. Hoskinson shared a video by medical doctor YouTuber Vinay Prasad on how ChatGPT, a large language model, could revolutionize the world of medicine. The tweet suggests that Hoskinson and the Cardano team may be exploring opportunities to form functional partnerships with development teams to leverage the technology underpinning ChatGPT. Additionally, Hoskinson may be backing the development of decentralized applications that can use ChatGPT's technology. The pivot towards medicine could be the next step for Hoskinson, who has a flair for scientific innovations that aid human life. Cardano is well-positioned to harbor any form of innovation underpinning ChatGPT technology, and we can expect to see more unique innovations in the near future.
Top Investors Show Increasing Interest in Cardano, Amass 560M ADA
Cardano (ADA) whales, or addresses holding between 100 million and 1 billion ADA, have accumulated 560 million ADA tokens, worth $218 million, in the past two weeks. The cumulative holding of these whale addresses now targets the 3 billion ADA mark, indicating a readiness from deep-pocketed investors to augment their holdings. Cardano has also been witnessing a surge in non-zero addresses, adding 79,196 non-zero addresses since the start of the year. Most ADA holders, about 51% of investors, are long-term holders, having held their bags for over one year. However, ADA continues struggling to recapture the $0.40 zone after falling below it a week ago.
Cardano Adds 79,196 Non-Zero Addresses, Moving Towards 10M by 2025
The number of non-zero addresses on the Cardano network is expected to increase to 10 million by 2025, according to an analysis by Cardano stake pool operator Cardanians. The network recently surpassed 4 million total addresses, with 2.24 million holding non-zero balances.
ADA Records Sharp Decline Despite Cardano’s First Oracle Integration
Cardano's native cryptocurrency ADA has experienced a drop in price despite the blockchain's first-ever Oracle integration launch with Charli3, an open-source decentralized Oracle. The integration with Liqwid, a decentralized interest rate protocol for lending and borrowing on Cardano, enables Charli3 to provide secure, safe, and accurate data to the ecosystem. However, ADA's price has dropped by 2% in the last 24 hours and currently trades at $0.379, down from trading above $0.4 on Monday. ADA's market cap has also declined to $13.2 billion from $14.2 billion seven days ago, and its trading volume has dropped from $630 million to $273 million in the past seven days. Despite this, Charli3's Oracle integration is a monumental milestone for Cardano, allowing several projects to build their oracle needed projects on the blockchain.
